Euro introduction bill forwarded to Saeima committees

  • 2012-11-22

RIGA - Today, Saeima forwarded the Finance Ministry's bill on the introduction of the euro for review in Saeima committees.

The bill stipulates the period when euros and lats will circulate simultaneously, cash exchange rates and other related matters.

The bill also envisages that price tags will include prices in both euros and lats three months before the introduction of the euro and six months after that.

Both currencies will circulate simultaneously two weeks after the adoption of the euro. When receiving payments after the introduction of the euro, change will be given in euros. In addition, all ATMs will cease to dispense lats.

When the period of simultaneous circulation will expire, the euro will become the only legal instrument of payment.